World Bank: World Bank has full confidence in India's progress, increased economic growth estimates

World Bank: World Bank has full confidence in India's progress, increased economic growth estimates

India Economic Growth Forecast: The whole world has full confidence in India's economic progress at this time. The World Bank said on Tuesday that investment in India will increase in the financial year 2025. This will boost India's economic development. Along with this, the World Bank has increased its economic growth forecast for the Indian economy for the financial year 2025 by 20 basis points to 6.6 percent. Also, in the biennial South Asia Development Update, the growth rate for the financial year 2024 has been estimated at 7.5 percent. This is slightly less than the National Statistical Office (NSO) estimate of 7.6 percent.

There may be a sharp rise in the economy of Pakistan and Sri Lanka  

The World Bank has said in its report that the growth outlook of South Asia has become stronger this time compared to the previous edition. It has increased by 0.4 percent for 2024 and 0.3 percent for 2025. The biggest contribution in this is the investment possibilities in India. Apart from this, the economies of Pakistan and Sri Lanka which are facing crisis can also improve rapidly. Growth in India may be 6.6 percent in the financial year 2024-25. This may accelerate in the coming few years.

Progress of services and industry will remain strong

According to the World Bank, the growth of services and industry in India will remain strong. Construction and real estate sectors in the country also appear to be in good condition. Besides, inflationary pressure is also expected to remain low. Due to all these things, financial conditions will become stronger. The World Bank has also estimated a decline in fiscal deficit and government debt. This is the result of efforts by the Central Government to increase production in India.  

India's progress depends on public sector 

However, the World Bank report says that the story of India's progress depends to a great extent on the public sector. Private investment in the country is still very low. The report warns that rising debt, borrowing costs and efforts to rein in fiscal deficit could ultimately weigh on development. At the same time, the hands of the government can also be tied.

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